ORLANDO, Fla., Feb. 02, 2021 (GLOBE NEWSWIRE) -- Not one to bury the lead, let us quickly note that today’s public company which is deeply immersed in the rapidly expanding drone industry has no debt and over $20 million dollars in the bank.
Got your attention?
Allow us to introduce Drone Delivery Canada Corp. (TSXV: FLT) (OTC: TAKOF) (Frankfurt: A2AMGZ or ABB.F), a publicly traded, disruptive, pioneering, technology company focused on designing, developing and implementing commercially viable, drone-based logistics systems for government, commercial, industrial & retail customers globally.
The Company has created one of the healthiest balance sheets we’ve seen in a long time, through innovation and execution, building a compelling drone business in Canada with a model that could really fly most anywhere.
Which makes a January 26, 2021 press release by Drone Delivery a very interesting piece of information. The Company was praising recent changes by the United States’ Federal Aviation Authority, which ushered in sweeping new permissions for commercial drone activity.
Drone Delivery’s CEO, Steve Bogie, views the changes as most favorable, stating in part that “In January 2021, the FAA added new rules to 14 CFR Part 107 to permit the expansion of routine flights and created four categories of UAS for flights over suburban/urban areas assuming certain, specific criteria are met. These new rules greatly improve the regulatory certainty for UAS delivery operations in the United States and represent a significant step forward toward UAS integration into the US airspace. This FAA report further enables DDC on its path to US operations and the requirements needed. As a global leader in the drone delivery industry, DDC has been anticipating these new regulations and we are well positioned to fully capitalize on them."
There’s a lot to unpack there.
First, it appears the FAA has significantly expanded the capabilities for drone operators to deliver in vast areas that had been previously prohibited. This would seem requisite to eventual widespread drone delivery routes. This also appears to be the trend with regulators globally, as the drone industry gains momentum, incrementally fueled by new pandemic applications.
Secondly, in July 2020, the company announced that they had started the process to enter the vast US market, ripe for industrial, commercial and residential drone deliveries. And it doesn’t take an analyst to recognize the much larger market opportunity in the massive United States.
If the Company finds itself able to enter the United States and set up operations here, the Drone Delivery story could soon find itself flying south for revenue, in addition to their current domestic sources. The company also announced Letters of Intent in 2020 for the Africa and India markets – both very large markets rapidly starting to embrace drone technology.
About Drone Delivery Canada:
Drone Delivery Canada is a publicly traded, disruptive, pioneering, technology company focused on designing, developing and implementing commercially viable, drone-based logistics systems for government, commercial, industrial & retail customers globally.
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